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Frontier IP Group Plc

Major deal for AI drug discovery firm Exscientia

A Dundee University spin-out firm which uses artificial intelligence (AI) to speed up drug discovery has entered a multi-million pound partnership with a US biopharma company.

Under the deal, Exscientia will work on three therapeutic programmes for Celgene in the areas of oncology and autoimmunity.

Exscientia will receive an initial $25m (£19m) upfront payment from Celgene.

It will also receive royalties on sales that result from the collaboration.

Exscientia said a key goal of the partnership was to apply AI to improve the speed of delivery of new treatments for patients.

Exscientia is at the forefront of artificial intelligence (AI)-driven drug discovery and design. Frontier IP Group plc (LON:FIPP) as a 5% holding in Exscientia as of 30th June 2016.

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